Sounds like you are conflating the Bitconnect situation with the general market of cryptos. If you been here since January 2017, than you know even at $10,000 BTC is up almost 10x since you first got in. Not too shabby I'd say.

Even as recently as early November 2017, $10k Bitcoin seemed like the moon. So really the market was overheated and $20k BTC came way too soon, I might even say $10k came too soon, it's fair current price, if there is such a thing, maybe only around $5-$8k or even less.

Anyway, Bitconnect was a Ponzi scheme from the get go and really had little to do with cryptocurrencies other than that is what is was basing the scheme off of. This would be like blaming the USD for Madoff's scheme a few years back.

So expect Bitcoin to correct to whatever it is going to correct to and then you can buy back in. If you have some coins left don't sell, but don't expect to recover your paper losses in the next few weeks either. Bitcoin and the other cryptos need some time to cool off and this will probably take a few months or more.

The last big correction in early 2014 lasted over 2 years, but I think this time it won't take as long simply because there is a lot more interest in the crypto space this time around and with the dip the big wall street money types who missed out the first time will surely be getting in.

The last statement from the above post would be my recommendation as well.

While you can in theory run the cards off the 6+2 cable if you spread the current over more wires using your unused molex lines that would be the best option.

Most consumer PSU cables even with the 300 watt maximum rating are meant for maybe a few minutes peak current at 300 watts, not 24/7/365 at those levels.

A more realistic continuous load would be around 200 watts, so as you said yourself it would be pushing it. If you had 16 gauge cables maybe, but with 18 gauge I would spread the current around across a few more cables if you can.

Another $10 invested in a couple of Molex to 6-pin adapter cables will give you peace of mind that you won't burn your house down as well as probably providing your rig increased long-term stability.

It is more important to keep your cards spaced appropriately to avoid excess heat buildup and to under-volt them so as to further reduce heat.

Also, if you have many rigs, try to space them apart from one another as well or utilize external air flow such as a fan to direct the heat away from your rigs.

Finally keeping dust and dirt buildup to a minimum with periodic cleaning is also beneficial to maintaining effective GPU cooling and thus increased the card's longevity.

These practices will allow the fans on your GPUs to run at slower speeds, as too high of continuous fan speed is the number one reason for premature fan failures. While vertical and horizontal positioning may offer slight variations in operating temperatures, the bigger heat related issues are considered above.

I am sure Bitconnect had a little to do with it, but as with most things there are several factors. The Korean news of potential clampdowns are also a concern, and even the time of year has something to do with it.

For the past three years, during this time period in January, has typically been the low point in Bitcoin's price for those respective years, so it is also a seasonal low point.

I am sure things will be looking up in a month or two and will probably start cooking again when people get their tax refunds back and invest it in Bitcoin.

Yes, it was indeed a Ponzi scheme and many people tried to warn everyone to stay away from it so they would not lose their money for the past year. But greed gets the better of people and in the end the scammers always seem to win out over common sense.

Your aunt's money is basically gone. Did she invest in it on her own or because of your influence?

Because it is January mainly. During the last 3 years January has been the low spot for BTC price and it spills over to other cryptos as well. There are many theories as to why, but for the most part it is a good time to buy back in.

Yes, it is a pretty good time to buy right now at or even slightly under $10,000 if it goes down that far again. Your best bet is to spread out your buys a little bit and try to dollar cost average in as the price could even make a quick dip down to $7-8K for a minute.

I was reading another thread that interestingly pointed out that during the last 3 years, the 2nd-3rd week in January has been the low point in BTCs price for that year, so you may only get a few days here at these lows before the price goes back up. So even if you do not time the lows exactly, you are probably still getting in at a good price compared to where we will be in a few months time.

I will go against the general trend here and I say go for it, YOLO.

If it works out great, your just freed yourself a lot more time for research and hopeful improve your trading.

If it doesn't work out so what, the worse thing that can happen is you would need to go back to working at a job again, hardly the end of the world situation so many on here are making it out to be.

Lol, very doubtful, why would they bother to steal it in the first place if they plan to give it back.

Just accept the fact that all your btc on Nicehash is gone and that your friendly Nicehash admins will never have to work another day in their lives, except for a brief period of trying to pin the blame on someone else.

I really cannot believe the number of people waiting for Nicehash to return so they can give them a second chance to scam some more free BTC.

At this point in the game mining itself doesn't even make sense much less wanting to use a scammy pool such as Nicehash to do it. All those people who invested thousands in mining rigs or mining contracts over the past few months would have been way better off buying and holding pretty much any coin directly.

While all the Nicehash miners are now looking at even longer ROI time-frames, everyone else is making money hand over fist. A hypothetical $2,500 invested 3-4 months ago directly in Bitcoin would be now worth $19,000, while that same $2,500 put into a mining rig someone bought during the same time is still working on its ROI.

Yep, I just got them installed and can confirm temperatures and fan settings break (at least with Claymore 10.2), was just coming back to post this as well.

I can control them in wattman though, so I may test them out for awhile until Claymore can get around to making a new patch.

Thanks for posting. I was just about to download fresh drivers for a rig that's been acting up lately and I seen these Adrenalin drivers published today. Before I did though I thought I would check to see if anyone tested them yet with mining. Here is hoping for a slight improvement, stability would be great.

Sound's like an inside job if you ask me. All these recent hacks always have such weak excuses too, like "someone stole someones credentials". Well first thing that should not be enough for someone to be able to hack in and send all the BTC off, there should have been several layers with each one limited to what it could do.

I always avoided Nicehash for the most part, but did mine a few of the up and coming coins on there once in awhile. I didn't have a large amount in my wallet, but no one likes to see this happen to anyone and it always seems like the same weak security excuse. If they even did file a report with the authorities, they should all be subjected to intense scrutiny from law enforcement over the next several months as I just have a bad feeling one or more of their employees is involved.

Yes, I just had to go through hoops on Bittrex to get my small amount of btc off of there and then they charge 0.001 BTC withdrawal fee, which is right now around $12. For people with smaller amounts they are basically just claiming your BTC as the transaction fee will cost more that your balance.

Since they don't lower the withdrawal fee which is denominated in btc, it doesn't matter what btc is worth as the fee will scale as well. So if btc hits $20k their withdrawal fee will essentially be $20.

Quite true. I was actually going through a list of old pools and exchanges I used to mine with long ago and I found a lot of leftover "dust". Funny, that some of this dust that was only worth $6 (~0.06 btc) in early 2013 when bitcoin was around $100 is now worth $600.

I managed to scrape up close to half a bitcoin in total from these forgotten amounts spread across probably 10 places. So this Christmas will be paid for by my old forgotten dust amounts

On the sad note, many more of the old sites I tried no longer exist so I probably lost an equal amount of dust with time as well.

I should mention that some of the sites were a bit hard to get funds off too, Vicurex for one where I still had 0.2 BTC I had to place a buy order for Doge coin, wait about a week for it to even fill, and then wait 2 weeks before the wallet would even let me transfer the money off. I had originally written this off as a lost cause, but it did eventually go through. I then converted the doge back to BTC at a slight 2 satoshi profit.

A couple other sites were sketchy as well, so I suggest if anyone is in a similar situation you act now as I am sure as the dust values go up some of these old sites will simply vanish.

Maybe Satoshi lost the keys to the bitcoins in question, or perhaps Satoshi is deceased. Hal Finney was one of the first people to publicly work with Satoshi on bitcoin, perhaps they were one in the same and Satoshi was simply his nom de plume to avoid publicity. Now with Hal gone the keys are probably gone as well.

What are you talking about? I never said anything about it being hard for bitcoin to be worth over $10k, I said it is hard to have it be worth that much and at the same time expect the fees to stay low. Moving $10k in any other system will cost you probably $50 in fees, so even paying $5 to make the transaction move faster (which the OP was talking about) is still not a bad deal.

Like it or not I think it is hard for a token such as Bitcoin to be worth $10k+ and have low transaction fees. I also do not think this is a problem as there are off-chain scaling solutions being worked on and there are lots of other cryptocurrencies one can use at many places. You also have the option of paying a bit higher fees, as still paying $5-$10 to transfer $10k someplace almost instantly isn't that bad. Try using Western Union, your bank, or Paypal to transfer large sums and you will be socked a lot more in fees.

As far as those $5.00 coffee purchases, learn to use cash or keep you bank card or phone bank app handy. I don't think Bitcoin is going to replace those services anytime real soon for the small everyday purchases. Too many people think it needs to be an all or nothing solution implemented right now. The current banking system took years and years to get where it is at, while Bitcoin has only been around for less than 10 years. Give it some time to grow and develop and if you dislike it so much you can always stick to the traditional banking system.

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I will add my 2 cents too thinking it is not such a great idea to use credit cards to finance your mining operation.

As long as the math works though I guess it is one way to get into mining, although I would think the interest rate would eat a large part of your profits.